FuelCell reports Q2 EPS (7c), consensus (8c)

Reports Q2 revenue $22.4M, consensus $21.35M. “In the second quarter, our team continued to execute on all three pillars of our Powerhouse Business Strategy, growing revenue sequentially from the first quarter while exercising cost discipline,” said Jason Few, President and Chief Executive Officer. “We achieved an important milestone toward commercializing new advanced technologies by updating and extending our joint development agreement with ExxonMobil Technology and Engineering Company to jointly develop carbon capture technology, while retaining certain rights to market this product more widely to a global clientele in need of energy transition solutions. We also entered into an exciting new relationship with Ameresco, Inc. to provide the Sacramento Sewer district with our energy delivery and emissions management platform to create clean electricity from onsite biofuel. We were also pleased to report a 67% increase in our Generation portfolio revenues, enhancing the recurring revenue profile of our Company.”